Local Manufacturing Mandate for EV Parts May Cause Short-term Supply Gaps, Price Rise
Nearly 60-70% of EV components are currently being imported
April 2, 2025
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The electric vehicle (EV) industry is bracing for a short-term price surge, as the Ministry of Heavy Industries (MHI) has mandated a 100% domestic content requirement for 18 EV components, including the traction battery pack, battery management system, and heating, ventilation, and air conditioning system.
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Melvin Mathew
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